Parnassus Investments LLC Sells 179,952 Shares of Marriott International, Inc. $MAR

Key Points

• Parnassus Investments LLC reduced its stake in Marriott International by 8.2%, now holding about 0.74% of the company, valued at approximately $481.9 million.
• Marriott International's stock is currently rated as a "Moderate Buy" by analysts, with a consensus price target of $281.00.
• The company announced a quarterly dividend of $0.67 per share and initiated a share buyback program for up to 25 million shares, indicating confidence in its stock's valuation.

Parnassus Investments LLC decreased its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 8.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,023,277 shares of the company's stock after selling 179,952 shares during the period. Parnassus Investments LLC owned approximately 0.74% of Marriott International worth $481,945,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MAR. Vanguard Group Inc. increased its position in shares of Marriott International by 0.9% during the first quarter. Vanguard Group Inc. now owns 20,236,478 shares of the company's stock valued at $4,820,329,000 after acquiring an additional 184,387 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Marriott International by 16.4% in the 1st quarter. Wellington Management Group LLP now owns 5,427,410 shares of the company's stock worth $1,292,809,000 after purchasing an additional 766,309 shares in the last quarter. Invesco Ltd. raised its stake in shares of Marriott International by 18.9% in the first quarter. Invesco Ltd. now owns 4,123,836 shares of the company's stock worth $982,298,000 after purchasing an additional 654,766 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Marriott International by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,514,831 shares of the company's stock valued at $360,833,000 after purchasing an additional 37,212 shares in the last quarter. Finally, Fundsmith Investment Services LTD. boosted its position in shares of Marriott International by 5.5% during the fourth quarter. Fundsmith Investment Services LTD. now owns 1,504,980 shares of the company's stock valued at $419,799,000 after buying an additional 78,770 shares during the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. BMO Capital Markets lowered their target price on shares of Marriott International from $285.00 to $280.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 6th. Dbs Bank upgraded shares of Marriott International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 14th. Jefferies Financial Group upgraded shares of Marriott International from a "hold" rating to a "buy" rating and boosted their target price for the company from $226.00 to $303.00 in a research note on Monday, May 12th. JPMorgan Chase & Co. initiated coverage on Marriott International in a research note on Monday, June 23rd. They issued a "neutral" rating and a $284.00 price target on the stock. Finally, Mizuho reduced their price objective on Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $281.00.

Marriott International Price Performance

Shares of NASDAQ:MAR traded down $3.43 during mid-day trading on Tuesday, reaching $264.43. 830,047 shares of the company traded hands, compared to its average volume of 1,669,185. The company's 50 day moving average price is $270.47 and its 200-day moving average price is $258.52. The firm has a market cap of $71.78 billion, a PE ratio of 29.81, a PEG ratio of 2.64 and a beta of 1.38. Marriott International, Inc. has a 52 week low of $205.40 and a 52 week high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, hitting analysts' consensus estimates of $2.65. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.66 billion. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. During the same period in the prior year, the business posted $2.50 earnings per share. The company's revenue was up 4.7% on a year-over-year basis. Marriott International has set its FY 2025 guidance at 9.850-10.080 EPS. Q3 2025 guidance at 2.310-2.390 EPS. On average, research analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, August 21st will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 21st. Marriott International's dividend payout ratio (DPR) is 30.21%.

Marriott International declared that its board has approved a stock repurchase plan on Thursday, August 7th that authorizes the company to buyback 25,000,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Marriott International news, insider Rajeev Menon sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total transaction of $670,700.00. Following the completion of the sale, the insider directly owned 5,706 shares of the company's stock, valued at $1,530,805.68. This trade represents a 30.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.68% of the stock is owned by insiders.

About Marriott International

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.